The West Launches a War on Russian Assets

Ngọc Vân |

$1 billion from Russian assets seized by the West has been transferred to Ukraine.

RT reported that Ukraine has just received the first $1 billion of a $20 billion loan supported by the US, using revenue from frozen Russian assets - Ukrainian Prime Minister Denis Shmigal announced on December 25. Russia immediately condemned this as an act of "looting" and pledged to respond with legal measures.

The loan is part of a $50 billion support package funded by interest on about $300 billion worth of frozen Russian assets. After the conflict in Ukraine escalated in February 2022, the United States and other Western allies froze the assets of the Russian Central Bank.

Two weeks ago, the US Treasury Department transferred $20 billion to a World Bank fund to support Ukraine. The European Union pledged another $20 billion, while the G7 contributed $10 billion. The loan is expected to be repaid over 40 years.

"We expect all Russian state assets to be confiscated and used for the reconstruction of Ukraine," Prime Minister Shmigal wrote on social network X.

In addition to the Russian asset loan, Prime Minister Shmigal also announced that Ukraine has received an additional $1 billion from Japan and the UK through a World Bank program. From 2022, all of Ukraine's government, military and public services will rely on foreign aid.

With the 2024 budget forecasting revenues of $49 billion and spending of $87 billion, Ukraine faces a deficit of tens of billions of dollars.

The Kremlin has called the freezing and seizure of Russian assets “predatory” and warned that it could set a dangerous precedent and undermine global trust in the US and its allies.

The International Monetary Fund (IMF) also warned that seizing Russian assets could seriously damage the West's international financial reputation.

Kremlin spokesman Dmitry Peskov said Russia would sue those involved in the confiscation of its assets.

The Russia-Ukraine conflict has now expanded beyond the battlefield to the international financial arena. The use of frozen assets to support Ukraine has not only heightened tensions between Russia and the West, but has also raised questions about its legality and the long-term consequences for the global financial system.

Ngọc Vân
TIN LIÊN QUAN

EU gives Germany more than $4 billion to spend on Russian gas

|

The EU has approved Germany's request to spend $4.2 billion to reduce its dependence on Russian gas.

Ukraine shuts off Russian gas valve - who loses more?

|

When the contract for the transit of Russian gas through Ukraine officially ends, not only Russia and Ukraine but also Europe will suffer losses.

EU hinted at returning $300 billion in frozen Russian assets

|

The EU acknowledged that Russia has a "legitimate claim" to assets frozen by the West since the escalation of the Ukrainian conflict in 2022.

Storm No. 1 is about to strengthen, forecasting the most notable impact on the mainland of Vietnam

|

According to the representative of the meteorological agency, storm No. 1 Wutip will increase in intensity in the next 24 hours, affecting both the weather at sea and on land.

Mr. Lai Xuan Mon holds the position of Secretary of the Party Committee of the Central Propaganda and Mass Mobilization Commission

|

Mr. Lai Xuan Mon was appointed to hold the position of Secretary of the Party Committee of the Central Propaganda and Mass Mobilization Commission, term 2025 - 2030.

The Minister of Justice explained that the maximum fine for any field has not been increased

|

Minister of Justice Nguyen Hai Ninh said that increasing the maximum fine is a big issue that needs to be studied and carefully assessed for impact.

Unifying salary policy, assigning the education sector to recruit teachers

|

The National Assembly Standing Committee agreed on salary policy, support and attraction for teachers; assigned authority to the education sector to proactively recruit teachers, etc.

Government approves license of Sun PhuQuoc Airways airline

|

Deputy Prime Minister Tran Hong Ha has just given instructions on granting an air transport business license to Phu Quoc Sun Airlines Company Limited.

EU gives Germany more than $4 billion to spend on Russian gas

Ngọc Vân |

The EU has approved Germany's request to spend $4.2 billion to reduce its dependence on Russian gas.

Ukraine shuts off Russian gas valve - who loses more?

Ngọc Vân |

When the contract for the transit of Russian gas through Ukraine officially ends, not only Russia and Ukraine but also Europe will suffer losses.

EU hinted at returning $300 billion in frozen Russian assets

Khánh Minh |

The EU acknowledged that Russia has a "legitimate claim" to assets frozen by the West since the escalation of the Ukrainian conflict in 2022.